The Power of Financial Reporting – making your finance function work for you
Financial statements tell the story of where the organization stands financially and how the organization fared financially for the reporting period. By preparing accurate financial statements, your organization’s finance function supports the organization’s accountability and oversight. Nonprofit executives review financial statements to monitor the organization’s activities. Management provides financial statements to the Finance Committee and to the Board to promote the accountability and oversight needed for good governance.
In this session, participants will explore how financial statements are used including issues such as: who should be reviewing financial statements, when should they review them, and what financial statements should they receive? Participants will learn specific techniques for reviewing financial statements including what to look for and what questions to ask. Participants will become familiar with additional financial statement components such as the Statement of Functional Expenses, the Statement of Cash Flows and Notes to the Financial Statements.
Field of study: Accounting